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bitcoins

By my estimates, I'll spend an extra $30-$40 in power a month, making another $90. Those calculations are based on eth at $300.

Bitcoin is significantly more expensive to mine, I'd lose money with my current rig if I did so.
 
Mining sounds fun, or at least the initial setup is what really sounds fun. As for actually making money, it's not lucrative at all. You could do far better just finding good deals here and there and reselling, or buying and selling between different platforms. Just one transaction a month would net fifty bucks, especially if you're already willing to leverage a thousand to get it.
 
Yakoo752 said:
Something went down with Tether today
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Tether was hacked and 35m was taken. They're in the middle of a forced fork right now in an attempt to secure the missing funds. BTC was affected with a 5% drop and a quick recovery. It was a buying opportunity for sure.
 
byke said:
Mining sounds fun, or at least the initial setup is what really sounds fun. As for actually making money, it's not lucrative at all. You could do far better just finding good deals here and there and reselling, or buying and selling between different platforms. Just one transaction a month would net fifty bucks, especially if you're already willing to leverage a thousand to get it.
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I agree. Mining sounds like a fun project but if you're serious about mining coins that are hot then imo you're better off investing in the coin itself.

Mining for other smaller coins is probably the sweet spot.

Have any of you seen the company creating sea containers for mining? Straight up drop off, plug in and you're mining. Imagine dropping one off next to a solar farm.
 
I guess I'm too anal, but when they overhype everything in their promo, I can't help but feel like their invest/return is overhyped as well. If I thought the actual return were anywhere near that, I'd drain my retirement right now. Every business in the world would jump on a 20x return over six years.
 
You'd make your own. They're not doing anything tricky there. Just a bunch of shelving in an uninsulated container with greenhouse exhaust fans.
 
Chet said:
What do you think about this model ?
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It’s cool but I feel like I could do it myself. I do like the mobile and off grid angle they got going.

Something about fortress deep within the jungle with a few of these inside just sounds awesome to me. Couple of paid goons with uzis walking around and you got yourself and Archer episode.
 
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Do you know if there is a general dollar per watt ratio? It seems destructive to the currency for it to become unprofitable to mine. I'd expect a currency to get proportionally harder to mine as the price goes up so that it continues to maintain the same profit/watt ratio, but they don't seem to be doing that. Is it because the mining is turning industrial and the big biz miners are getting better energy rates than the average homeowner?
 
byke said:
Do you know if there is a general dollar per watt ratio? It seems destructive to the currency for it to become unprofitable to mine. I'd expect a currency to get proportionally harder to mine as the price goes up so that it continues to maintain the same profit/watt ratio, but they don't seem to be doing that. Is it because the mining is turning industrial and the big biz miners are getting better energy rates than the average homeowner?
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Harder to mine because of the use of coins. Takes more time to find a coin which means more power is used.

There are miner conversion sites which will tell you cost/coin ratios.
 
byke said:
Mining sounds fun, or at least the initial setup is what really sounds fun. As for actually making money, it's not lucrative at all. You could do far better just finding good deals here and there and reselling, or buying and selling between different platforms. Just one transaction a month would net fifty bucks, especially if you're already willing to leverage a thousand to get it.
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For fun is pretty much why I did it. Not looking to get rich off of mining. I'm also very interested in ethereum's vision of a decentralized network.

byke said:
Do you know if there is a general dollar per watt ratio? It seems destructive to the currency for it to become unprofitable to mine. I'd expect a currency to get proportionally harder to mine as the price goes up so that it continues to maintain the same profit/watt ratio, but they don't seem to be doing that. Is it because the mining is turning industrial and the big biz miners are getting better energy rates than the average homeowner?
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This is part of what Ethereum is trying to solve, moving from a POW to a POS system.

I've also dropped some coin into Ethereum and Litecoin, but Bitcoin doesn't really interest me.
 
RightCoastBias said:
This is part of what Ethereum is trying to solve, moving from a POW to a POS system.
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Do you happen to have any links handy on this?

RightCoastBias said:
I've also dropped some coin into Ethereum and Litecoin, but Bitcoin doesn't really interest me.
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From a technical's perspective, it looks like they're about to break up. I'd guess $500 by end of January. Of course a bad news drop crushes things in an instant.
 
Caught that one and went through a dozen others. I don't know anything about crypto currencies, so the POW to POS switch stuff was over my head to begin with.

I can't tell how stake will compare to mining as far as profitability is concerned. It says you'll take transaction fees from validating a transaction, but it doesn't say if it will be somehow comparable to mining and it doesn't sound like that fee will be paid in Ether..? Not a fan of this because I'd much rather be sitting on appreciating crypto than not-really-appreciating dollars.

And the amount of Ether you have is directly related to likelihood of validating a transaction *and* what you'd receive in fees? I get wanting to slow things down, but I don't see how this creates the supposed level playing field because it still gives more likely and bigger rewards to bigger holders. Is it because it slows earning *and* may promote holding currency instead of cashing out? Systemically promoting the holding of Ether would drive the price up, good for anyone sitting on Ether.

Interestingly, the first phase of Casper will see no change in POW, but will see an additional POS process on top of it, which will actually increase power usage. I know, part of the transition, but still kinda funny.

I'm sure these comments and questions read weird because idkwtf I'm talking about. :laughing

https://github.com/ethereum/research/wiki/Casper-Version-1-Implementation-Guide
 
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